Oct 13 (Reuters) - Gascoyne Resources Ltd (GCY) : BOARD...

Oct 13 (Reuters) - Gascoyne Resources Ltd (GCY) :

• BOARD UNANIMOUSLY RECOMMENDS SHAREHOLDERS REJECT WESTGOLD'S INTENTION TO MAKE A TAKEOVER OFFER FOR GASCOYNE
• MAJOR SHAREHOLDER DEUTSCHE BALATON AG STATES INTENTION NOT TO ACCEPT CURRENT OFFER FROM WESTGOLD
• BELIEVES OFFER FROM WESTGOLD UNDERVALUES GASCOYNE SHARES
• REMAINS COMMITTED TO PROPOSED SCHEME OF ARRANGEMENT WITH FIREFLY
• PRODUCTION GUIDANCE PROVIDED FOR FY2023 AND FY2024 WITHDRAWN AS A RESULT OF PROPOSED UPCOMING MERGER WITH FIREFLY
• NOW SEES FY22 AISC BETWEEN A$1,900/OZ TO A$2,000/OZ